Thacker Pass lithium project : Lithium Americas secures investment from GM
American automotive manufacturer General Motors (GM) and Lithium Americas, a mining company, have joined forces to develop the Thacker Pass lithium project in Nevada.
Situated in Humboldt County, the Thacker Pass lithium mine is anticipated to process a large scale of lithium, which can support the production of up to one million electric vehicles annually.
Under the agreement, General Motors will make a $650 million equity investment in Lithium Americas through a couple of tranches.
The automaker will receive exclusive access to phase 1 production from the Thacker Pass lithium project and acquire the right of first offer on Phase 2 production with the closing of the first tranche investment of $320 million.
General Motors will use lithium carbonate from the Thacker Pass lithium mine to manufacture the company’s proprietary Ultium battery cells.
Mary Barra — General Motors Chair and CEO said: “GM has secured all the battery material we need to build more than 1 million EVs annually in North America in 2025 and our future production will increasingly draw from domestic resources like the site in Nevada we’re developing with Lithium Americas.”
“Direct sourcing critical EV raw materials and components from suppliers in North America and free-trade-agreement countries helps make our supply chain more secure, helps us manage cell costs, and creates jobs.”
Lithium Americas secures investment from General Motors towards development of the Thacker Pass lithium project. Photo courtesy of Khusen Rustamov from Pixabay.
Subject to certain conditions, the second tranche investment of $330 million is anticipated to support Lithium Americas’ US-focused lithium business after the separation from the Argentina businesses.
Jonathan Evans — Lithium Americas President and CEO said: “The agreement with GM is a major milestone in moving Thacker Pass toward production, while setting a foundation for the separation of our U.S. and Argentine businesses.
“This relationship underscores our commitment to develop a sustainable domestic lithium supply chain for electric vehicles.”
The Thacker Pass lithium project is expected to begin production in the second half of 2026 with 1,000 jobs during construction and 500 in operations.
Lithium Americas is also advancing lithium projects namely Caucharí-Olaroz and Pastos Grandes in Argentina.